Equipment is an example of a: A.current liability. B.longminus−term liability. C.current asset. D.longminus−term asset. What is...
Equipment is an example of a:
A.current liability.
B.longminus−term
liability.
C.current asset.
D.longminus−term
asset.
What is liquidity?
A.Liquidity is a measure of the fragility of certain types of inventory.
B.Liquidity is gross profit minus operating expenses.
Under the periodic inventory system, the amount of inventory is:
A.constantly updated.
B.only known when a physical count is taken.
C.adjusted after each purchase.
D.adjusted after each sale
C.Liquidity is the ability to convert an asset to cash quickly.
D.Liquidity is a shipping term that applies to freight sent by boat.
Homework Answers
Equipment is an example of Long-term asset.
Correct option is D.
An asset held in the business for a long period of time usually ranging above a period of 1 year is termed as long term asset. Thus equipment is a long term asset.
Liquidity is a Liquidity is the ability to convert an asset to cash quickly.
Correct option is C.
The asset which can be converted in to cash earlier is termed as more liquid.
Under the periodic inventory system, the amount of inventory is only known when a physical count is taken.
Correct option is B.
Under the perpetual inventory system, the amount of inventory is constantly updated but it does not happen in case of periodic inventory system.
Kindly comment if you need further assistance. Thanks‼!
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Equipment is an example of a:
A.current liability.
B.longminus−term
liability.
C.current asset.
D.longminus−term
asset.
What is...
1. Equipment is an example of a: A.current liability. B.longminus−term liability. C.current asset. D.longminus−term asset. 2....
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